you showed nothing. You showed what an investment bank, that has been horribly wrong about any estimate over the past 2 years, is estimating the cost. The whole point is that nobody, including me knows the true cost. So, your logic lies in saying because nobody can prove the exact figure your estimate is better than someone else's? I claim the administration is for sure wrong because they are completely unable to exactly pinpoint the extent of the spill, they have ZERO CLUE, this is the whole crux of the story. Yet they seem to be in the know how much all this clean up is gonna cost. Is this how your own administration thinks and why they ask for precisely 20billion and yet point out this is not a cap nor does it prevent from lawsuits??? I am asking again: What is in for BP? Why would anyone sign such a stupid deal?
I already showed what's in it for BP. The crux of your argument is that they don't know how to count. BP, FYI, has been under investigation for at least 5 years if not more for being an outlier on safety issues. Their record of safety violations defines fat tail in this area. (I'm making the large assumption you know what a fat tail is in this context. I realize this is the triumph of hope over experience.) So no, no one is giving them a pass. BP knows it, and the folks who have to know about these things know it too. So, keeping that in mind along with everything else, what makes you think the chairman, the CEO, and the Board are all dumber than you?
now we get closer to the truth, yes, unfortunately, and to my surprise your government has not one single engineer or expert in this field who is able to accurately measure the extent of the spill. I do not understand why but this seems to be the case, judging from a 10 times higher upward revision in estimates and even now wild ranges. If you cannot count something its better to first do so before opening once's mouth. If they really had such horrible record isn't it again your administration's fault that they granted exploration licenses to BP? It cannot have been that bad, or wait, actually it was that bad: They were all sleeping in the same bed, one hand feeding the other, of course nobody spoke up. A great reflection of the high standards your government is pursuing and applying on a daily basis. Heyward has made some incredibly dumb comments in public, I wonder why he is still in the seat. Those execs have done everything they could to save themselves and have utterly ignored the most important entity in this whole game, their shareholders. No matter how dumb the CEO or its board acted, no shareholder deserves such outrageous theft and sell off that is currently going on, this is nothing short of plunder. Dont get me wrong, I post this because I believe BP has made mistakes and they should pay for it, but what the administration is doing, and they should be held up to a higher standard, is ethically and morally as wrong as it gets. Please do not tell me Obama has the poor fisherman in the south in his mind, its all a political game, and a media charade. Its so that the idiot on the street has again something to talk about while pursing their obese and lazy life styles. Lets be honest at least for a second here!!! If this was about cleaning up this mess there would be a lot less lawyers and flare around. Isnt it funny that it took WEEKS for America to wake up and see something is happening and something needs to get done? Give me a break, I just hate rhetoric and pretentious games.
What a bunch of croc. Any shareholder with half a brain would have dumped this stock as soon as it was obvious that BP was lieing about how much oil was leaking. I was a shareholder and the instant I found out that the estimates of how much oil was leaking was well over 5 times what BP claimed, I dumped the stock. So I have no pity for shareholders. Use your god damn brain and understand what it is that you own. You are an owner. You don't get any special treatment. If you own a company run by a bunch of idiots, then you suffer the consequences of owning that company. Boo hoo. Cry me a river.
The shareholders invested knowing, or if not they should have known, that BP was way way out there when it came to safety. It's not like the records on this weren't public knowledge. I find it interesting that you fault the government for not knowing the spill rate. BP itself published the first numbers, because they, after all, were the ones on the scene. The government's numbers were published much later because they had to do an independent, after the fact, analysis. You're a shill for BP, aren't you?
that is ridiculous, nobody up to a certain point in time thought the leak was larger than 3k/day (either BP lied or did not know better, but as a matter of fact , the administration at that point gave a shit and did not care whatsoever, Obama was even heavily criticized in your own media for his delayed response or complete lack thereof). Give me a break. Go back to read the chronicles of this incident. Its all available on the net for you to get back to the truth. The price action also supports my argument, the sell off at first was very controlled, within limits. Even after prices started to collapse the estimate was still not revised upwards. Please stick to facts at least.
yes I am a shill for BP and a shill for Goldman. You are an idiot who just picks up everything the media pushes and take it for granted. You really think Exxon holds itself up to stricter safety standards? You are as ignorant as it gets, sorry!!!
Proof, other than your sacred word, that Exxon is worse, or even on the same level, as BP on safety? I have a feeling I'll be waiting a long time for it.
Again...there was plenty of opportunity to get out of this stock with a mild loss such as I did. You've validated my point. When it became obvious how deficiently run this company was, proven by their inability to even come close to accurately measuring the flow when observers at universities were much closer just by watching a video, that was your clue that this company was either clueless, or run by a bunch of crooks. Either way, any investor that takes risk suffered the fate at their own hands. BP alone has brought themselves done. As an owner, eat your own cake.
you are a clown, you are the one who throws around with statements like this. You are the one saying BP pursued horrible safety standards also in the past. If anyone then it should be you to show this is the case. I simply asked a rhetorical question. I do not believe ANY oil company implements stricter standards than BP did, at least not overall.